BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 69,337 shares of the biotechnology company’s stock after acquiring an additional 2,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in BioMarin Pharmaceutical were worth $4,901,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BMRN. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at $234,645,000. Capital Research Global Investors boosted its stake in BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after buying an additional 2,496,817 shares during the last quarter. Soleus Capital Management L.P. purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $65,822,000. Dodge & Cox grew its holdings in BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after buying an additional 847,917 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company’s stock valued at $84,371,000 after acquiring an additional 685,099 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on BMRN. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an “outperform” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Morgan Stanley cut their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group reduced their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.74.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $59.01 on Friday. The firm has a 50-day moving average of $57.15 and a two-hundred day moving average of $62.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. The stock has a market cap of $11.32 billion, a P/E ratio of 21.94, a PEG ratio of 0.83 and a beta of 0.17. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the transaction, the chief accounting officer owned 14,173 shares of the company’s stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.85% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.